Post says able to pay its tax

RE: PRESS RELEASE

HIGH COURT GRANTS THE POST STAY AGAINST ZRA

The matter in which Zambia Revenue Authority has been pursuing Post Newspapers Limited to pay its tax obligations in one installment has
undoubtedly attracted interest from within and across the borders of our country.

Following the ruling of His Lordship High Court Judge J.M. Siavwapa granting Post Newspapers Limited a Stay of Execution of his judgment dated
30th October, 2015 while the matter goes to the Supreme Court on appeal, The Post wishes to sincerely thank the Zambian public and the
international community for the moral support extended to the newspaper so far in this difficult period.

For the avoidance of doubt, the ruling by His Lordship Judge Siavwapa now allows The Post to continue liquidating both its current and outstanding tax obligations to the revenue authority in the manner that it has been doing since the matter went to court and ensure that it is current with ZRA within 90 days from the date when the Supreme Court will dispose of the appeal.

Furthermore, while The Post deeply appreciates the goodwill of the masses in this matter, we wish to declare that the newspaper is not behind nor
has it by itself or through any agent given any blessing to any calls for donations for purposes of liquidating its obligations to ZRA or any other
obligation for that matter. The Post hereby assures its readers and partners that it is capable of meeting all its tax obligations and shall do so within the time frame granted by the High Court ruling.
Meanwhile, Post Newspapers Limited would like to assure all who identify with its cause that it remains committed to being the good corporate citizen it has been in the 24 years of its existence, which includes
paying its tax obligations as required by law.

Rowena Zulu
Finance General Manager
Post Newspapers Limited

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